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fiscal cliff hello debt ceiling. >> the fiscal cliff fight was ugly but will the debt ceiling struggle be eveninging uglier. >> hard to believe but this could get uglier. [ laughter ] the government is aetch perfecting the legal limit for how much kit borrow also known as the debt ceiling. republicans can demand that the president make spending cuts or we'll hit the debt ceiling and go through it. [ laughter ] or get crushed by it or you know what? we might have to make a skylight in it. sounds nice. it's pretty but they rarely get caulked properly and when it rains, it drips and ruins your sisal carpet. the republicans are clearly in a strong position but the president might have a trick up his sleeve. >> is there a magic bullet to solve the crisis? try a magic coin. some economists, legal scholars and a congressman are suggest a $1 trillion platinum coin could be minted and the government could use it to pay the debt, avoid default and preempt the debt ceiling crisis. >> stephen: we should have known that a coin was obama's solution to everything. it was right in his slogan. change.
except maybe that approaching cliff on the debt ceiling. apparently that's not having much on the market. the big board opened, dow opened down 10. down 10 in the very, very early going. i've got this for you. a new cheap iphone for china, different design, bigger screen. i've got to believe that's going to move apple up. nicole, tell me. >> up 1%, and this is interesting, the new cheaper iphone over in asia and here is the stock 528.88 a gain, about $5. 5.25. it's not a huge gain, but means that apple is serious about getting back into and a better position in the china market because it's way down there at the moment. >> their products are not cheap. their products are not cheap. they're very expensive products and to have a lower end model, a cheaper product has got to be good news for them. stuart: i want to move on to at&t. just heard that it sold 10 million smart phones in the fourth quarter. so, is at&t stock up? >> that's a record, that's a record. let's see what a record brings at&t shares. 34-97 to the upside. we've got the dow industrials opening down 26 points and maybe not f
. this is debt ceiling cliff and approaching much faster than we previously thought, specifically around february 15th. the government can not borrow anymore money. the treasury is moving money around to make sure it can pay its bills. it runs out of the ability to pay all the bills right around february 15th according to this bipartisan group. at that point we run out of money and the government has to start prioritizing who it will pay and who it will not pay. bill: some in washington argue it is a head fake. it is a kind of a sexy headline. the u.s. government takes in tax receipts and that money will pay its bills. >> that's right. it is not true to say america defaults on february 15th or whatever the date is because tax money is still coming in. when the government has to do when the cliff arrives is decide who gets paid and who does not. they have to pay the interest on the debt. have to pay out social security but will they pay federal workers salaries? maybe they won't. that is prioritizing the money coming in and prioritizing where it goes on the way out. bill: we have a calendar to wat
battles to fight in washington yet. i think the debt ceiling -- the fiscal cliff thing was nothing more than a band-aid, and we have the debt ceiling coming up. this is going to be big time for the market, and i think this is one more thing that will scare investors to the sidelines. want to get back on technicals. no support between here and 1400. >> what's your take on earnings in the fourth quarter? what are you expecting? >> i can't tell you what our dollar number is for earnings. >> what do you think about the last one? >> the profit cycle, we view that this quarter or next quarter is the trough in profits growth for the s&p 500. >> we heard that in the fourth quarter last year though. you said the same thing. >> i didn't say that last year. >> but, i mean, most of the wall street analysts were. >> right now our forecasts are we're pretty close to the trough. not this quarter or next quarter but getting month. looking out 12 month, will profits be stronger or weaker than today? i will come down on the side that says it's stronger 12 months from today than weaker, and i think the st
. >> thank you, jim. take care. >> all right. you see where you can go. fiscal cliff, debt ceiling, how about guys like kevin doing amazing things? exact sciences. if this comes true, in other words, the fda gives the permission, you can see how big this can be. i like this story. stay with cramer. so if you have a flat tire, dead battery, need a tow or lock your keys in the car, geico's emergency roadside assistance is there 24/7. oh dear, i got a flat tire. hmmm. uh... yeah, can you find a take where it's a bit more dramatic on that last line, yeah? yeah i got it right here. someone help me!!! i have a flat tire!!! well it's good... good for me. what do you think? geico. fifteen minutes could save you fifteen percent or more on car insurance. ♪ i don't wanna be right [ record scratch ] what?! it's not bad for you. it just tastes that way. [ female announcer ] honey nut cheerios cereal -- heart-healthy, whole grain oats. you can't go wrong loving it. officemax can help you drive supply costs... down... ...and down. just use your maxperks card and get a case of x-9 paper for only 1-cent aft
this uncertainty and questions surrounding the debt ceiling and the fiscal cliff, or is there a point that you believe the debt ceiling fight damages the economy? >> i think we're already there, and i think you only need to look back at what happened a year ago or in the summer of 2011 when we hit that ceiling, and, in fact, even paying for it, maria, had a little spike in interest rates that went along with that. had to issue some debt that's still outstanding according to the budget priority center, costing us 18 billion over the last ten years in just in debt costs alone but because it's hurting us right now, maria, doesn't mean it can't get worse and it will probably. i don't know if you saw the small business confidence numbers this morning. they were up 0.5 from one of the lowest levels in 38 years. we have really taken small business optimism and put it in the gutter right now, and so it's a real problem for the economy right now, getting on a correct fiscal track would really have a lot of benefits. >> i mean do, they not understand that? it seems so obvious. >> it strikes me there's a
with a conversation about politics and economics and debt ceilings and fiscal cliffs and sequestration with david leonhardt of the "new york times" and austan goolsbee, former chairman of the president's council of economic advisors. >> there's much less of a sense in obama that he can get the grand bargain. although he's still trying. he and boehner both are. i think he's much more cynical about what republicans will agree to and i think he's come to think that many of them won't do anything with him. >> rose: national security, politics, and the economy when we continue. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. poop announced his picks for two of the most important national security positions earlier today. for secretary of defense he nominated former republican senator chuck hagel. he chose counterterrorism advisor john brennan to head the c.i.a.. >> chuck hagel is the leader that our troops deserve. he is an american patriot, he enlisted in the army and volunteered for vietnam. as the young private and then sergeant he served with ho
and the debt ceiling. what could be more important than 87 dead americans every single day including kids. historically the republican party has been owned by the nra and the democrats have been literally sort of kowtowed into submission. there is a debate finally going on and it's outrageous that the gun guys are saying--and i'm a gun owner--but it's crazy. they're saying arm teachers, armed guards at school. now in the face of 20 dead babies they're going to parade around their guns and say our president, who is absolutely a second amendment supporter. he has done nothing on guns in his four years is now saying let's have a background check and a ban on assault weapons. these are reasonable initiatives. >> jennifer: most of us watching this, and i know you are probably at the he head of this parade has seen this happen time and time again. there is always the focus and then it dies down. do you think that because of bloomberg's focus and financing that there could be a counter balance that might actually be effective as a way to battle the gun lobby in congress? >> i do think it's possi
the looming debt ceiling and sequester. the u.s. -- joining us me now chris van holland, ranking member of the house budget committee. i hope it's a happy new year, but it looks like you're facing even more deadlines, and they are more perilous, even than the dead lien you all had on new year's eve when you were voting at 11:15 at night or something like that. let's talk about what lies ahead? i has also suggested that changing the way the cpi is computed for social security, the chain cpi and changing the age requirements for medicare should be one way to go on the upcoming budget negotiations. that's a nonstarter according to most democrats. where is the running room for any kind of room for negotiations? >> well, andrea, first of all, i hope we can now at least ban the expression fiscal cliff from our vocabulary going forward. >> let's hope. >> you are right. we're right back into it, and we're back into it because republicans just judging helped in a bipartisan way, gotten over the fiscal cliff are now threatening that the united states will not pay its bills. that we'll actually de
of the fiscal cliff. because the default, if nothing happens, is that the debt ceiling is not raised. what that means it doesn't mean, as some who would demagogue this issue suggest, i doesn't mean a default on our debt. whatnot raising the debt ceiling would mean is a partial government shutdown. roughly 40 cents of every dollar the federal government spends is borrowed. if you don't raise the debt ceiling, that 40 cents is temporarily stopped. now we did that in 1995. we didn't default on our debt. >> woodruff: right. the result was balanced budgets and some of the greatest fiscal responsibility was seen we've seen in modern times from congress because fiscal conservatives stood together and said we need to be responsible. >> woodruff: let me ask you about a couple of other issues. that is guns. you're a long-time proponent of gun rights. you're the father of two young girls ages 4 and 2. after those terrible shootings at that h elementary school in connecticut, have you changed your views at all on how available guns should be especially the high-capacity rifles? >> i think every parent
's saying that's not an emergency? 87 dead americans every day and the fiscal cliff or debt ceiling is more important than 87 families burying their children and family members every day? that is immoral. and the nra is immoral. and let's face it. the gun industry controls congress and until the people take back their congress, it's going to be more massacres, more gun sales, more money back to the nra supporters in congress. >> let's get in you on this, michael. there are conservative groups backing this gun appreciation day. >> yeah. >> but for those who think it's just republicans or conservatives who are so-called gun rights advocates that's not the case. i want to play freshman senator highcamp. she was on abc's "this week," their sunday morning program. >> i think you need to put everything on the table but what i hear from "the washington post" and white house, that's way in extreme of what i think is necessary or even should be talked about. and it's not going to pass. >> certain things are not going to pass and the things she was referring to listed as possible proposals from the p
americans. the debt ceiling fight is very, very different than the fiscal cliff fight. the fiscal cliff fight was something where we could anticipate a lot of problems coming if we went over it. the debt ceiling fight is very, very different. it will -- if it goes to the crisis the republicans talk about creating, initiate a broad meltdown as regards our economy. and it runs the risk of putting people out of work. >> so many comparisons being made to what happened in the '90s under newt gingrich. the world economy is a lot different right now. i know your "nation" magazine has done a lot of reporting on this. who would be affected the most? who would survive and who wouldn't? >> well, small businesses would be devastated by this because you'd see a locking up of capital at a very, very rapid rate. and anybody who relies on a line of credit could end up in really big trouble -- farmers, working folks, anybody trying to get a mortgage. you would see a very, very quick impact. and the problem is also the instability of a situation like this, especially at a point when our economy is just b
the debt ceiling. but, you know, he cease himself as having won something in the fiscal cliff go-round, chris, and so -- and i think that boehner sees himself as having lost something and needing to win back the fealty of those tea party republicans. so i still think we're in for an ugly few months. but i think they -- if they won't do the debt ceiling, they have less leverage. >> what a country. let's drop left wing, right wing for a second. we're the country of the world, we're the role model, we're the city in the hill, right? what a joke teaching democracy this way. >> i'm not sure the framers of the constitution envisioned a day when the members of congress would hold the president hostage. >> and not pay their debts. >> by not paying their bills. you have the cr, the continuing resolution that funds the government running out in march. you have the sequester deadline, which they couldn't deal with this time. they kicked down the road to march 1. and you have the debt ceiling hitting about the same time. so you have three cliffs. it's going to be a three ring cliff, a three
with a -- fix the fiscal cliff and deal with the debt ceiling? >> the fiscal clefted not fix the debt, and that was the big debate during the fiscal of conversation. is this affecting tax policy or is this about trying to pixar debt and deficit. there was a group that said let's fix the tax policy in deal with the deficit later. as supporters sang, we must deal with the debt and deficit which is the bigger issue. gerri: you voted against it. >> i did. gerri: what can we do about this? what can we do about this? >> well, we have three things. people will hear them thrown together by the senate and presidency, but there are really three different distinctly different things. the debt ceiling, the sequestration that has now been punted for two months, and we also have what is called a continuing resolution all will be abbreviated as a cr. all three are good moments to deal with spending. but they're all very different, not the same. sequestration is our agreement that we are going to cut spending, 100 billion this year. that got punted for two months as part of the fiscal cliff and will
's much longer term than that. but we managed to do both budget and debt ceiling deals before. we've done a fiscal cliff deal. we need to give ourselves breathing space but that's going to take really serious spending cuts from the administration. those things are on the table, not just through the debt ceiling and through sequester and continuing resolution, i would hope the president put things on the table that he put on there in the summer of 2011 and more recently things like to change like looking at raising gradually rates of eligibility and means testing. there's really important structural changes that need to happen to give the country fiscal stability. but the aadministration will have to stand up to its own party and produce bold ideas and frankly be willing to work with republicans to get the job done. >> one thing i want to show everybody is politico having this front page profile, the hell no caucus, backed up by the conservative group the club for growth. congressman from arkansas cotton saying, that he would have voted both speaker boehner plan b on millionaires in the fi
fiscal cliff or debt ceiling crisis exactly one month from now, that's why the spot vix is so low. but there are people out there who said to me this morning, it's cheaper to go out and buy calls on stock than stocks right now. it might be better strategy to just buy calls on a short-term basis. alcoa kicking off earnings season. jim, you mentioned what's going on. i don't know the expectations are very high here. inventory levels are very high. the dollar was weak. aluminum prices barely budged at all in the fourth quarter. obviously this is going to be in 2013 guidance. but right now, they're going to have to be pretty optimistic about things in 2013. i think to move the dial on alcoa. >> you're absolutely right. i know klaus, the ceo, was very optimistic about a bunch of different product lines. but in the end, it's the commodity that is controlling. one day it will be the product lines. great, great analysis. let's head to the bond pits to the cme group in chicago. go ahead, rick. >> jim, it's only been several weeks since there was a lot of intensity regarding, have we starte
that worries some people, though, is the upcoming debates over the debt ceiling is going to be even more contentious, much more contentious, possibly, than the fiscal cliff debate that we just had. how damaging might that be to the economy in your opinion? >> i think you're going to work things out. i don't see the government stopping. i think they are going to work out and get over this next cliff. i'm not sure it's a cliff. it's just a small hill to climb. >> a small hill to climb. i think you might be in the minority on that one, mr. broad, but i'll give it to you. tell me about the los angeles economy specifically. you said you think the economy overall is getting better. what about l.a.? >> l.a. is doing a lot better. unemployment is down. it's now in single digits versus double digits in the past. we've got a number of major construction projects, including our museum, including things happening at the airport and elsewhere. there are lots of companies coming to los angeles. there are a lot of people from los angeles wanting to move downtown to grand avenue where all the activity i
% of the expenditures if it doesn't have the ability to borrow under a debt ceiling. this will affect america in so many fundamental ways. they just went through the fiscal cliff debate with the president and all of the polling coming out is saying the president got the upper hand of that in terms of public opinion. >> robert, do you agree with that? do you think it's going to get done or is there a possibility it's going to need some kind of push like tax refunds not going out to get them to get down to business? >> it sounds like day gentleman view all over again. it's about us being able to pay our bills. regardless of whether or not the irs is able to send out refunds or not this already affects each and every one of us because it's our taxpayer dollars. we have republicans and democrats that wait until the last minute on everything to get something done. what we need is speaker boehner and the president to come to the table and roll up sleeves -- >> speaker boehner said he won't talk to the president on this. >> that's not what he said. he said i'm not going to negotiate one on one with this presid
the urban institute, a conversation on the fiscal cliff agreement and what's ahead for the debt ceiling, automatic spending cuts and the deficit. live coverage gets started at 12 eastern. >> i think that that collectivization of the minds of america's founding fathers is particularly dangerous because, as i say so often in the book, they were not a collective unit. and presenting them as such tends to dramatically oversimplify the politics of the founding generation. and then it comes to be used as a big battering ram to beat people over the heads with in ways that i think are both historically incoherent and rhetorically unsound. >> michael austin on what he calls the deep historical flaws by conservative commentators. he shares his views with george washington associate professor of law david fontana on booktv's "after words" sunday at 9 p.m. and midnight eastern on c-span2. >> now, homeland security and state department officials testify about potential abuse of refugee programs by terrorists. the testimony includes a case where two iraqi nationals were given refugee status in the u.
they shouldn't blow up the nation over the debt ceiling. i don't know if he can control that, and if he doesn't do that, i think he's still heading straight to a cliff with the government shutdown. >> that's going to be the question. can he control them. jack jackie, i mean, what baffles me is how this party, the tea party types, who've lost so much of their traction and their popularity still can wield this kind of influence over speaker boehner. when you look at the fact that membership is in single digits. member of the tea party 2010, 24% said yes. now only 8%. if you look at the tea party's popularity, at a record low. favorable views of the tea party in 2009. it was 51%. today it's only 30%. and even new jersey governor chris christie who has an approval rating of 73% has what is working with president obama through the hurricane openly defied them and he seemingly only got stronger because of it. >> well, right. i mean, it's true that their poll numbers have diminished. we're also coming off an election where there wasn't a tea party candidate in the driver's seat. so there wasn't that
how serious the debt ceiling is, so i think you'll see that wall street pressure come much earlier. the other point that needs to be made is it's tough for republicans to actually do what they claim and want to do and hold the country hostage because in order to do so, they need to stipulate late their demands, and they will not come out and say we want to cut medicare this much or social security this much, and it's almost comical watching them on tv saying the president must go first, the president must go first. s. >> never underestimate the visceral intensity or the poetic allure of negro-phobia. they are completely committed to that. that's what obama is facing. >> there's the contention that the republicans aren't going to play ball on the sequester, but at the end of the day, my friend, it seems that defense cuts will be more painful for republicans than democrats, and they are going to have to do something on this. >> yeah. one would think, but honestly, alex, i think it comes back to this idea that everyone thought after president obama was re-elected with such high margin
the urban substitute a conversation of the fiscal cliff agreement and what is ahead for the debt ceiling, automaticking spending cut and the deficit. live coverage gets started at 12:00 eastern. >>> now immigration enforcement in the u.s. a recent report found that u.s. spends more on immigration enforcement that all other law enforcement agencies combined. the policy substitute hosted the ninety-minute event. >> good morning, everyone. and happy new year. both to those who have been joining us today. but also to though who are at home viewing this event. i'm the president of the migration policy institute within i would like to welcome you to the discussion of the institute's latest report. when is a tight of "immigration enforcement in the united "the rise of -- and as you will see, the presentation and as we will conclude after the event is over, indeed it is a formable ma machinery that has been created in the united over the past decade or decade and a half. the release of the report could not come at a more appropriate time. since the election, even before that, the president and l
. how confident are ceos once we've gotten through the fiscal cliff that we still have that debt ceiling hanging over us. overseas in asia, you did see some losses from some of these major markets. the nikki was down by 90 points. hang song by 218 points. also in europe at this hour green arrows but these are modest gains at this point. the dax in germany has barely budged. in france the cac is up by about 20 points and the ftse 100 up by ten points in london. also, aig is reportedly considering whether to sue the u.s. government over the terms of their bailout. "new york times" reports that the company's board will be meeting tomorrow to talk about joining a $25 billion shareholder lawsuit against the government. the suit deals with the nature of the rescue, at what became a 2 92% stake in the company. the lawsuit says that these terms deprived shareholders of tens of billions of dollars, violated the fifth amendment, which prohibits taking of private property for public use without just compensation. a little bit of crazy lawsuit because it happens when aig just paid back all of that l
, as the government reaches its debt ceiling and can't borrow any more money. president obama wants to lift that ceiling. the republicans don't. and it appears we're heading for another "thelma and louise" ride to the edge. remember -- they went over. we'll discuss that possibility next week with paul krugman, the nobel laureate in economics and "new york times" columnist whose bestselling book, "end this depression now!" calls for full employment as an alternative to austerity. read it, then send us the question you would like me to put to paul krugman. meanwhile, another reality beckons and there's a menace more threatening than the fiscal cliff ever was. what should really be scaring the daylights out of us -- the crisis which could make all the others irrelevant -- is global warming. get this one wrong and it's over -- not just for the usa, but for planet earth. that's the message delivered by hurricane sandy, and by almost all the extreme weather of the past two years. and here in the first month of the new year, it's the message from the most informed scientists in the world. they're
of this sequester, automatic across the board cuts. the president set that up back in 2011 when the debt ceiling talks broke down. this was the way to kind of get the republicans to come to the table. and during all of those negotiations, the president, according to the speaker boehner, kept waiting for the speaker to bring up the sequester and he never did. so it wasn't until a day before they reached that final deal. i think it was like the day before new year's, that finally the president said to speaker boehner, wait a minute, what about the sequester? we can't live with this. so finally they delayed it for two months. but this is a big problem. it's one of the reasons i think now the tables shifts from the democrats having the upper hand in these past negotiations because all the taxes were automatically going to go up, now all the spending cuts are automatically going to happen. i think that's one reason the speaker is optimistic he might be able to get some tax reform out of the democrats and maybe also a bigger deal might be on the entitlements. the big programs like medicare and medicai
had before. they will not negotiate over the debt ceiling. this has led some republicans and some outside groups as well to advocate whether the congress would try to consolidate this issue on their own. using what they call regular order. i think what they mean by that as congress should go ahead and pass the budget resolution, have that resolution contain reconciliation constructions which is a fancy phrase for having them tell different committees, as revenues to raise our how much to slow down the growth of spending and maybe to put something horrible in it that will happen if they do not follow through. we saw how all that worked with the super committee. there are two basic problems with this approach. there is not enough time. the contemporarily raise the debt limit. this would be extreme. even if they give themselves more time, congress as a whole cannot pass a budget resolution unless both the house in the senate passed their home and the senate has not done that for a number of years. it would be even harder for them now. the one thing the deal did was to pick be lowest
very much. there's going to be another huge fight in the coming weeks over raising the nation's debt ceiling. there's going to be a battle between john boehner and mitch mcconnell. here's a washington post poll that just came out. do you approve of the budget negotiations to avoid the fiscal cliff were handled? 52% agree with the president handled and only 31%, john boehner. ari, who has more political capital going into this next round? >> well, on a poll like that, john boehner is not known by 100% of the country. so it's not as indicative of that poll. the president is more popular than the congress and the president has more leverage than the congress does. at the end of the day, though, we're all in one nation and have to do something about this debt to save our children from it being such a burden. that still requires everyone to come together. no matter how you slice it, the republican hand is a weaker one, the president's is a stronger one. >> does he have any hand right now when it comes to raising the nation's debt ceiling? i'm talking about john boehner and the republicans
Search Results 0 to 36 of about 37 (some duplicates have been removed)